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picture News March, 2 2021
image: How to prepare and present the Annual Report electronically How to prepare and present the Annual Report electronically - The Estonian national ID card is world unique as it gives us the opportunity to do bank transactions, vote, or prepare and present the Annual Report through the Internet, agreed members of the Swedish and German-Baltic Chambers of Commerce at the morning seminar on the subject presented by Reidi Strandberg, Board Member of Gullfia OÜ.

Finnish, Portuguese and Belgium ID cards, as well as Lithuanian mobile ID are also accepted for the e-Annual Report process, which is simple. However, problems might occur if the Board Members of foreign companies in Estonia don't have an ID card or a mobile ID.

- Board Members of our Finnish customers can use their ID card to present the e-Annual Report we have prepared, but this is very new for them. They often hesitate to make the digital signature and prefer to do it in traditional way, said Signe Anton from Leinonen.

In cases like that one solution might be that a person is appointed - usually the accountant or a person from the accounting services provider - who will prepare the Annual Report electronically. This report is printed out as a .pdf and presented to the Board Members for signing. This signed document is then scanned and uploaded to the Tax Board's e-reporting page again. A third option is to use a notary, but that is connected with additional costs.

- e-Annual Reporting is developing and already in April we will see some changes which will improve the system and make it even more user friendly, concluded Reidi Strandberg.

For more detailed information on how to prepare the e-Annual Report, please contact Reidi Strandberg:

On behalf of the seminar participants and the SCCE Council, I would like to thank Reidi Strandberg for an interesting seminar , and SCCE's members Signe Anton and Kaire Rebane from Leinonen, Urve Annuka from NASDAQ/OMX and Riina Maltsaar from Aditro for their input and for sharing their experiences with us. My thanks also go to the German-Baltic Chamber of Commerce for a good cooperation in arranging our joint seminar.



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· e-annual report

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